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On 29 January, during the Global Gateway Investors Forum for EU-Central Asia Transport Connectivity event in Brussels, European Commission Executive Vice President Valdis Dombrovskis announced that European and international financial institutions will commit €10 billion to support and invest in sustainable transport connectivity in Central Asia. This investment is needed to transform the Trans-Caspian Transport Corridor into a multimodal, and efficient route, connecting Europe and Central Asia within 15 days. Russia's invasion of Ukraine has underlined the urgency to find alternative reliable efficient trade routes between Europe and Asia that do not transit Russia. In addition to opening new possibilities for businesses, the development of transport connectivity is also a means to strengthen the regional integration and economic development of Central Asia. 

During the Forum the European Investment Bank (EIB) signed a MOU totalling €1.47 billion with the Governments of Kazakhstan, Kyrgyzstan, and Uzbekistan and the European Bank for Reconstruction and Development (EBRD) signed a MOU worth €1.5 billion with Kazakhstan.

Speaking at the Forum Adina Vălean, Commissioner for Transport noted: ‘A modern Trans-Caspian Transport Connecting the Central Asian countries is the cornerstone of our efforts to promote increased regional economic integration and further growth in the region, as well as better connections with Europe. We have identified 33 physical infrastructure investment needs, ranging from modernising railways to increasing port capacity and fleet renewal. Today’s Investor’s Forum demonstrated the large interest from both institutional and private investors in supporting these projects.’

For more information: European Commission press release